Winchester Distillery on track to raise funds for expansion
Winchester Distillery is on track to reach its £375,000 crowdfunding target with more than 65% of funding achieved one month before the deadline.
The business, which is now five years old, has raised more than £240,000 to help fund expansion plans.
The campaign was in ‘private mode’ on Crowdcube, meaning it was only open to followers of Winchester Distillery, with the aim of reaching 20% of the overall amount. The pitch will now go public on the Crowdcube website.
The external investment is being sought by the company to increase production of its premium spirits, install a brewhouse, further develop its whisky and rum, increase marketing activity, look into export opportunities and also open an onsite gift shop.
Founder, Paul Bowler, said: “The news that our supporters have pledged almost quarter of a million pounds, plus the overwhelming amount of support we have received over the last month, has been the best fifth birthday present for Winchester Distillery. We are really excited that our Crowdcube campaign will be open to all later this week and that we are another step closer to being able to proceed with our expansion plans.”